San Jose Unified School District, Chevron Energy Solutions and Bank of America have completed what is believed to be the largest K-12 solar and energy efficiency project in the U.S.
The project, which includes a total of 5.5 MW of solar power at 14 district sites, is expected to reduce the district's energy costs by more than 30%. Reductions in energy costs are expected to save the district's general fund more than $25 million over the 25-year life of the project.
Chevron Energy Solutions – a unit of Chevron – designed, built and operates the solar photovoltaic arrays for the district. The company also provides maintenance for the solar energy system and measures and guarantees its performance.Â
Bank of America, through the Banc of America Public Capital Corp. Energy Services team, owns the solar equipment and sells power to the district under a service contract at set rates significantly below market utility rates, providing the district savings and energy cost predictability.
SOURCES: San Jose Unified School District, Chevron Energy Solutions, Bank of America